General Motors, an American automobile giant, on Friday, announced it would invest $1.5 billion into building its new pickup vehicles at its St. Louis, Missouri plant.
The automaker currently produces its Chevrolet Colorado and GMC Canyon at St. Louis plant and the money would go into upgrading its Wentzville Assembly and Stamping Plant.
The new investment would help to retain over 4,000 jobs at the current facility. The automaker has around 4,300 jobs and there would not be any job cuts, according to the officials at General Motors.
A company spokesperson stated that over $1 billion would be used to upgrade the plant and the rest of the funds would be used for new machinery.
The announcement comes right after the automaker announced it plans to shut down plants in Maryland and Ohio.